Compare business insurance quotes with Savvy to find the best policy for your home business.
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Working from home and running a home-based business is now far more common in Australia. However, just because you’re at home doesn’t mean you don’t need business insurance. You’ll face many of the same business risks that you would working from an office or warehouse.
You can compare quotes for many types of business insurance here with Savvy. Just answer a few simple questions about your business and the insurance you need and you’ll have a range of offers from some of Australia’s top insurers to compare side by side instantly. Compare with us to make sure you get the best-value insurance for your business today.
The types of insurance you’ll require for your home-based business will depend entirely on the industry you’re in, how much contact you have with the public and how much business property and equipment you own. These include:
Public liability insurance
Public liability insurance is essential for anyone who has contact with the public. It doesn’t matter if they’re customers you visit or if clients come to see you at your home such as might be the case with home-based hairdresser businesses or if you run a massage or alternative therapies business.
Public liability will cover you against claims that your business activity caused injury to a member of the public or damaged their property. Accidents can happen in any business, which could lead to a claim for personal damages or injury amounting to millions of dollars. This insurance offers between $5 million and $20 million worth of coverage for both personal injury and property damage claims.
What it covers:
Product liability insurance
Product liability insurance will cover you against third-party claims that a product you sold was faulty or caused material loss, sickness, injury or death. This type of insurance is important for anyone who sells fresh produce, beverages and beauty or skin care products, as anything which is ingested or put on the hair or skin carries an additional risk of bacteria and virus transmission. Cover starts from $250,000 and can be bundled together with public liability into a business insurance package.
What it covers:
General business insurance
General business insurance may also be worthwhile if you have tools, portable equipment, machinery or stock to protect as part of your home business. This could include your massage table or hair and beauty treatment equipment for those therapy and service occupations.
What it covers:
Optional extras you may wish to include in your general business insurance package:
Personal accident and illness insurance
Whatever occupation you’re in, have you considered what might happen to your expenses and your family if you were no longer able to earn your income? Accident and sickness insurance can provide cover for you if you become unable to work, providing a weekly replacement income if you're injured or ill.
What it covers:
Optional extras can include:
What generally isn't covered under home business insurance?
The most common general exclusions include:
There is no set cost for an insurance policy, as each applicant is different and faces unique risks. Many factors influence the cost of business insurance, including the following:
The main factor which will affect the cost of your insurance is the industry you’re in. All businesses in Australia are classified according to the risk their industry poses, and are allocated a risk ratio. These ratios are used by insurers to calculate the comparative risk of any one business compared to another.
You can find out how much insurance will cost for your business by comparing quotes right here with Savvy. Whether you need insurance to protect your home business against cyber attacks or your income if you injure yourself, you’ll be able to find a policy which is perfect for your business needs here.
You’ve worked hard to set up your home business, so it doesn’t matter whether you work in a factory, an office, or at home: you still have a business to protect. General business insurance will protect your business equipment, and accident and illness insurance will protect your income in case you are unable to work. In addition, public liability insurance will protect your business from third-party property or injury claims, which can happen any time you interact with the public.
Most small to medium-sized businesses have some contingency funds to fall back on, but they rarely have sufficient to cover the cost of a major catastrophe. For example, if you suffered a cyber attack and were locked out of your website and social media pages, would you still be able to earn a living from your online business? If this happens and you have adequate cyber insurance to protect yourself, you’ll have a much better chance of getting back on your feet quickly.
Find the best possible insurance coverage for your business quickly and easily here with Savvy's 100% free comparison service.
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
